William Hill will be closing approximately 200 of their retail gambling establishments as of May 24th this year, putting as many as 1,500 positions in jeopardy.
This figure represents around 14% of the overall retail footprint of William Hill and demonstrates that the operator has had to react to heightened economic strain resulting in an increase in operational expenses within the UK marketplace.
The parent company, Evoke, mentioned that this was determined following a strategic review, with increased taxes and operating costs being attributed to its decision. They also noted providing support for impacted employees, but that it was critical for them to focus on sustainable locations.
Evoke, the parent company, explained the decision:
Following a thorough review and further to increased cost pressures on the regulated sector including significant tax increases announced by the Government in last year’s Autumn Budget, from May we are closing a number of shops that are no longer sustainable. We are offering our full support to our retail colleagues who are affected by these closures. These decisions are never taken lightly, however in the face of rising cost pressures we must take action to ensure we can continue to invest in our core retail estate, with the right shops, in the right locations.
In addition to the closures, new UK tax legislation takes effect on April 1st that will increase Remote Gaming Duty from 21% to 40% percent as well as future increases to betting duties scheduled for next year.
